The Role of Online Pharmacy : Navigating Healthcare through Netmeds

Introduction to Netmeds- ‘India Ki Pharmacy’

Netmeds, a Chennai-based company, is one of the promising medicine eCommerce service-based companies that are here to help you through its online pharmacy. Netmeds is an Indian online pharmacy and healthcare platform that offers a wide range of healthcare products and services like high-quality prescription medicines, over-the-counter pharmaceuticals, general healthcare products, Ayurvedic medicines, and homeopathic medicines. It has delivery facilities across India. Netmeds is a subsidiary of Dadha & Company, one of India’s most trusted pharmacy brands possessing over 100 years of experience in dispensing quality medicines. The company is considering a B2B business model through which it will offer medicines to pharmacies at wholesale rates.

Founder of the Netmeds Company

Pradeep Dadha is the founder of Netmeds. He was born in the Chennai suburb of Royapettah. He worked in his family’s business—Dadha & Company—and later set up its online presence. Along with being the Founder and CEO of Netmeds, Dadha also runs the Pradeep Dadha Group of Companies, a private holding company, and is the chairman of its subsidiary. He persued his Bachelor’s degree in Commerce from Loyola college in Chennai.

Mission and Vision of the Netmeds Company

Mission

The mission of Netmeds is to “provide the people of India with convenient and affordable access to their everyday medicines”.

Vision

The vision of Netmeds is built around the idea of providing “access to a full range of genuine medicine and reliable healthcare products to the consumers,” said the company founder Pradeep Dadha.

 Products and Services of Netmeds

Netmeds’ platform offers an impressive selection of both prescription drugs and non-prescription products (OTC). Netmeds offers a wide range of products. It deals with prescription-based medicines for all major and minor ailments, ayurvedic, Unani, and homeopathic medicines, health foods, drinks, supplements, personal care products, and equipment such as orthopedic devices, surgical accessories, etc.Products are sourced from more than 200 Indian manufacturer.These include Sun, Ranbaxy, Cipla, Dr. Reddy, and many other pharmaceutical companies. The company also has a diagnostics service that provides customers with expert advice from medical professionals.

Funding & Investors of Netmeds Company

Netmeds has raised a total funding of $109M over 4 rounds. 3 are early-stage and 1 are late-stage.

 Investors of Netmeds

Netmeds has total 7 investors and Daun Penh Cambodia Group is the lead investor. 7 are institutional investors

• Daun penh Cambodia(Cambodia)
• Sistema Asia Capital (Singapore)
• Tanncam Investments(Cambodia)
• Orbimed(United States)
• MAPE(India)

Acquisition of Netmeds

 Netmeds has acquired 3 organizations.

Pluss is an on-demand medicine, healthcare, and wellness products delivery app, which standardizes your experience irrespective of your location and the store from where your medicines come. JustDoc is one of the largest global online doctor consultation platforms that provide better healthcare services via audio, video, and chat. KiviHealth is a health-tech startup that aims to provide an affordable, patient-centric, digital health information management system.

Netmeds – Growth / Revenue

 Netmeds has quickly established itself as a leading name in the online pharmacy segment. Some growth milestones achieved by the company are:

• Netmeds India provides prescription medicines and healthcare products to more than 3,000,000 patients across India, serving over 19,000+ pin codes.
• It has around 35,000 stock-keeping units (SKUs) across various tier-2 and tier-3 Indian cities.
• Netmeds claims to have eight fulfillment centers in Chennai, Bengaluru, Hyderabad, Delhi, Pune, Ahmedabad, Raipur, and Kochi.
• The company currently has 13 warehouses.

The company plans to expand its presence soon by setting up warehouses through tie-ups in 16 metro and non-metro cities. Netmeds will be focusing on building its infrastructure to improve overall efficiency.

Financials of Netmeds

Revenue Range for FY 2023: Netmeds Healthcare Limited reported an operating revenue range of INR 100 crore to INR 500 crore for the financial year ending March 31, 2023.

It’s EBITDA has increased by 28.37% over the previous year. At the same time, it’s book networth has increased by 37.82%.

Estimated Revenue:Netmeds.com’s estimated annual revenue is approximately $168.3 million (around INR 1,400 crore at current exchange rates)

Awards and Achievements of Netmeds

• Netmeds bagged the Health Tech Start-Up of the Year at the NDTV Unicorn Start-up Awards 2016. It was selected as ‘Asia’s Most Promising Brand 2018’ by Int+ WCRC International.
• Netmeds was declared as ‘Asia’s Most Promising Brand 2018’ by Int+ WCRC International.
• Announced as the ‘Best Digital Healthcare Start-up’ by ET’s Now World Health and Wellness Congress in 2019.
• Conferred upon the title ‘Digital Healthcare Company of the year’ in 2019 by ET Now World Health and Wellness Congress.
• Voted as one of the 50 Most Influential e-Commerce Professionals of India by E-commerce Summit and Awards 2019.
• Received the Global Adjustments’ India Living Award where it was named as ‘Business Innovator of the Year’ 2018.
• Declared as the winner of the Zee Business Dare to Dream Award where it was named as the ‘Emerging company of the year’ in 2018.
• Obtained the title ‘Game changer of India’ by Economic Times in 2018.
  Named as ‘Asia’s Most Promising Brand’ WCRC in 2018.

Competitors of Netmeds

• 1mg
• PharmEasys
• mChemist
• Myra
• BigChemist
• Care on Go
• Click on Care

Conclusion

Netmeds is committed to enhancing the accessibility and convenience of healthcare for everyone. They plan to team up with key nutritional and pharma companies to target specific patient groups. Netmeds is focused on developing its warehouses and other fulfillment centers across the country. At the moment they have 26 fulfillment centers in India. Netmeds Marketplace is a subsidiary of Netmeds that uses a B2C e-commerce model.

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